Rio Tinto plc (RIO) Stock Rating Upgraded by Societe Generale
Rio Tinto plc (LON:RIO) was upgraded by research analysts at Societe Generale to a “buy” rating in a report released on Thursday. The firm currently has a GBX 4,400 ($57.87) price objective on the stock, up from their prior price objective of GBX 3,600 ($47.35). Societe Generale’s price target indicates a potential upside of 18.89% from the company’s previous close.
Several other brokerages have also recently weighed in on RIO. HSBC Holdings plc reaffirmed a “buy” rating and set a GBX 3,800 ($49.98) price objective on shares of Rio Tinto plc in a research note on Thursday, July 20th. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 4,200 ($55.24) price objective on shares of Rio Tinto plc in a research note on Wednesday, July 19th. S&P Global set a GBX 3,800 ($49.98) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC set a GBX 4,000 ($52.61) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, J P Morgan Chase & Co set a GBX 3,950 ($51.95) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 3,907.25 ($51.39).
Rio Tinto plc (LON:RIO) traded up GBX 23 ($0.30) during trading hours on Thursday, reaching GBX 3,701 ($48.68). Rio Tinto plc has a 12-month low of GBX 2,882.50 ($37.91) and a 12-month high of GBX 3,831.50 ($50.39).
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In other news, insider W Sam H. Laidlaw bought 7,500 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of GBX 3,420 ($44.98) per share, for a total transaction of £256,500 ($337,366.83). Also, insider Jean-Sébastien Jacques bought 10 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was purchased at an average price of GBX 3,721 ($48.94) per share, for a total transaction of £372.10 ($489.41).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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